Pittenger & Anderson Inc. Sells 16,496 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pittenger & Anderson Inc. trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 59.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,024 shares of the company's stock after selling 16,496 shares during the quarter. Pittenger & Anderson Inc.'s holdings in IDEXX Laboratories were worth $4,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company's stock worth $1,138,732,000 after acquiring an additional 40,349 shares during the last quarter. Franklin Resources Inc. raised its position in shares of IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company's stock worth $675,259,000 after acquiring an additional 34,305 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of IDEXX Laboratories by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company's stock worth $379,875,000 after acquiring an additional 2,463 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock worth $2,669,890,000 after acquiring an additional 527,460 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock worth $179,867,000 after acquiring an additional 316,048 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the transaction, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,330 shares of company stock valued at $6,161,276. Corporate insiders own 2.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IDXX. Barclays raised their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an "outperform" rating and a $500.00 target price for the company. Morgan Stanley decreased their target price on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $533.75.

IDEXX Laboratories Stock Up 0.4 %

IDXX stock traded up $1.90 on Thursday, reaching $452.89. 615,712 shares of the company traded hands, compared to its average volume of 704,594. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The company has a market cap of $37.09 billion, a P/E ratio of 42.45, a price-to-earnings-growth ratio of 3.38 and a beta of 1.37. The firm has a fifty day simple moving average of $431.19 and a 200-day simple moving average of $452.42.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.